Apparently the price isn't high enough to curb non-discretionary travel.
More Quotes from Guy Caruso:
Reserves appear to be there, the political will, the Saudi officials that have been talking have been saying that they can get to 15 and keep it there and that would be consistent with our outlook. We think it's plausible.Guy Caruso
Clearly, we expect significant price expenditures (for heating fuels) this winter compared to last winter,
Guy Caruso
I don't have any specific concerns about Saudi Arabia at this time.
Guy Caruso
The main factor is increased demand, not only in this country but on a global basis.
Guy Caruso
What's happening is fundamentally that the world oil market is extremely tight and crude prices are rising, partly because demand is outstripping supply and partly because of the geopolitical pressures that we're reading about every day in the papers.
Guy Caruso
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